ElringKlinger AG : Q1 2019 EBIT below our expectations, estimates and TP lowered
>Q1 2019 group EBIT pre PPA below our ests. on high NAFTA costs - ElringKlinger released Q1 2019 results yesterday (07 May). Group sales came in at € 441m (+2% yoy, organic +3% yoy) in line with our expectation (€ 441m), but EBIT pre PPA for Q1 2019, at € 7m, was clearly below our estimate (€ 20m, 4.6% margin) and the Q1 18 level (€ 17m adj. for € 21m one-off gain on Hug disposal) on higher-than-expected costs in NAFTA, tariffs (antidumping and countervailing duties o...ElringKlinger is a holding company. Co., through its subsidiaries, is engaged in the manufacturing and supply of cylinder-head and specialty gaskets, plastic housing modules, thermal and acoustic shielding parts for engine, transmission and exhaust tract applications, exhaust gas purification systems and components for lithium-ion batteries and fuel cells. Alongside vehicle and engine manufacturers, Co.'s customer base includes numerous automotive suppliers, particularly in the field of turbochargers, exhaust technology and transmission engineering. Co.'s operating business is divided into five segments: Original Equipment, Aftermarket, Engineered Plastics, Services and Industrial Parks.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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